How do Bookies Make Money on Horses?
Bookies make money by accepting wagers on sports and then when the player selects a team or game that loses then the bookie collects the losing amount which will be his profit. But bookies do have other betting options that they can offer their customer besides the more traditional sports bets, such as a virtual casino or horse racing.
The best way to offer virtual casino and horse racing is by using a pay per head website that offers these types of betting options. A PPH website such as AcePerHead.com can offer bookies a fully inclusive platform and website that allows the bookies’ players to bet on numerous sporting events, plus a virtual casino and horse racing for the small cost of $10 per active player a week.
So if you are interested in making money on horses then using Ace allows you to offer over 80 different racing tracks from around the world. This then makes it super easy for horse bettors to just log into their account and then choose any race and any track without having to actually spend the time and money to go to each of these tracks to make a wager. So for anyone that likes to bet on horses, this is a great feature to offer those customers.
In addition, when a bookie takes action on horse racing the odds will be capped and the payout will also be capped so that the bookie will be protected from getting hit big on any exotic type of horse wager like a pick 3, trifecta, or superfecta that could potentially payout tens of thousands of dollars. Obviously, these default limits are put in place to minimize the overall risk for the agent, but it is also done because the bookie is not the racetrack, and the racetrack determines payouts based on the pool of bets they get for each race. So obviously a racetrack is much larger than a local bookie so they determine the payouts based on the collective pool of money they received for that race, and that can vary significantly and cause long shots in exotic type wagers to payout huge amounts of money. So this is why it is standard for any bookie accepting wagers on horses to have capped payouts since they do not have the same pool of bets that the actually racetrack has.
So the capped payouts help to minimize the overall exposure for the bookie and make it easier for him to make more money on horse racing bets. Also the more players you have betting on horses then the more money you will end up making from taking horse bets. People that bet horse racing have a much lower win percentage than when they bet sports because it’s not one team against another but instead a field of anywhere from 5 to 15 different horses per race. This means It is more profitable when you have players that bet horses then just players that bet sports because it is even harder to win. So call Ace Per Head now at 1-800-909-5193 and get set up so you can start booking action on horses.